West One Loans comments on latest CML figures.

May 21, 2012

Gross mortgage lending fell by over £2bn in April, according to the Council of Mortgage Lenders (CML), giving the UK its lowest level of lending since April 2011.

Duncan Kreeger Chairman of West One Loans commented "If the eurozone crisis takes another serious turn for the worse – as looks likely – then mortgage lending to first time buyers could enter a state of near-paralysis. There is a big funding gap between supply and demand. Underlying borrower demand is actually very healthy, but banks and building societies don't have the capacity to meet it. Not by a long shot. Net mortgage lending is 90% lower than it was pre-2008, and borrowers have to cross a painfully high threshold to get high loan-to-value mortgages."

Mortgage Solutions, one of the first to run the story included Duncan's comments and to read the full article please click here.

West One Loan Ltd is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 510024. West One Secured Loans Ltd is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 776026. Certain types of loans are not regulated, for example loans for business purposes or certain buy-to-lets.

West One Secured Loans Limited is a member of the Finance and Leasing Association (FLA).The FLA Lending Code can be found at www.fla.org.uk.

West One Loan Ltd is registered with the Information Commissioners Office.Registration Number: Z2651210.West One Secured Loan Ltd is registered with the Information Commissioners Office.Registration Number: ZA280381.West One Development Finance Ltd is registered with the Information Commissioners Office.Registration Number:ZA362893

West One Loan Ltd is registered in England and Wales. Company Number: 05385677. West One Secured Loans Ltd is registered in England and Wales. Company Number: 09425230.West One Development Finance Ltd is registered in England and Wales. Company Number: 11242570. Registered Office Address for these companies: 3rd Floor, Premiere House, Elstree Way, Borehamwood, Hertfordshire. WD6 1JH THIS IS FOR PROFESSIONAL INTERMEDIARY USE ONLY AND MUST NOT BE SHOWN OR DISTRIBUTED TO POTENTIAL CUSTOMERS